Godrej Properties, Arkade Developers shares rise up to 5% on project updates

The shares of Godrej Properties and Arkade Developers recorded significant gains on June 16 after the real estate developers announced positive updates about their business.

Godrej Properties shares rose around 1.6 percent to close at Rs 2,440 apiece, while those of Arkade Developers soared nearly 5 percent to end the session at Rs 201 apiece.

Godrej Properties:

Godrej Properties announced on June 16 that it will develop a premium residential project on a land parcel spanning across 14 acres of land in Hoskote, East Bengaluru. The firm added that its expects the proposed project to offer nearly 1.5 million square feet of saleable area with an estimated revenue potential of around Rs 1,500 crore.

"Hoskote is an important micro market for us in East Bengaluru. It continues to demonstrate strong demand for high-quality housing and aligns with our vision of developing best-in-class residential communities. We aim to build a high-quality development that creates long-term value for its residents," said Godrej Properties CEO and MD Gaurav Pandey.

The real estate developer noted that the project will provide excellent connectivity to key areas, being only 5 km away from NH-75. "The area is also witnessing transformative infrastructure upgrades, improved arterial road networks, and the development of adjacent industrial and logistics zones. These improvements are expected to further elevate the appeal of Hoskote as a vibrant and well-connected urban hub, making it a compelling location for future-ready residential communities," it added.

Notably, the company already has a high-rise residential apartment project named Godrej Woodscapes in the area.

Arkade Developers:

Arkade Developers is foraying into the real estate market of Thane by acquiring 6.28-acre freehold land parcel for Rs 172.48 crore, the company announced in the post market hours of June 13. The project has a gross development value (GDV) of Rs 2,000 crore, and has a RERA saleable area of 9.26 lakh sq. ft.

The real estate developer said that the project is scheduled to be launched in early 2026. It will be located at Kasarvadavali off Ghodbunder Road in Thane West, and will offer 2,3 and 4 BHK apartments along with retail and commercial spaces. "The project boasts sweeping views of the Sanjay Gandhi National Park and seamless connectivity via Ghodbunder Road, the Eastern Express Highway," it added.

Arkade Developers Chairman and Managing Director Amit Jain said, "With a strong presence in central locations such as Kanjurmarg, Mulund, and Bhandup, our entry into the Thane market marks a significant milestone in our growth journey. Thane, with its rapidly evolving infrastructure including upcoming metro lines and other major projects, is emerging as a key growth hub for residential and commercial projects. We are truly excited to be part of this transformation and look forward to delivering a development that combines thoughtful design, functional living, and vibrant community spaces."

He added, "Our strategy is aligned with the overall market trend towards luxury housing. With accelerating demand, we are well-positioned to maintain a sustainable growth trajectory, creating enduring value for all stakeholders. FY 25 marks a year of prominence, during which we also acquired the legendary 4-acre land parcel in Goregaon, previously leased to Filmistan Pvt. Ltd, having an estimated GDV of Rs 3,000 crore."Also read: Biocon plans to launch QIP shortly to raise up to Rs 4,500 crore